Sales Force Turnover: An Exploratory Study of the Indian Insurance Sector

Suman Pathak and Vibhuti Tripathi
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Suman Pathak: IILM Academy of Higher Learning, India
Vibhuti Tripathi: Motilal Nehru National Institute of Technology, India

Management, 2010, vol. 5, issue 1, 003-019

Abstract: The insurance sector in India is rising rapidly to bring in growth and employment opportunities. Insurance companies are basically human intensive, and human resources act as an undoubted differentiator. Quality manpower and its retention would act as a litmus test. Turnover of sales force has been high because of low entry and exit barriers. The paper addresses issues of recruitment, retention and turnover of sales force in insurance companies. An attempt is made to integrate them to Maslow’s Need Hierarchy. A survey was conducted among 350 employees who worked in or had left insurance companies to analyze factors that influenced their decisions and job satisfaction. The data were treated with factor analysis. Factors such as Safety & Security, Social & Esteem and Personal Work Style emerged as the influencers to join insurance companies. Primary Needs and Social & Self Esteem Needs were the factors associated with job satisfaction; Stress, Career Advancement and Work Environment emerged as factors for leaving the companies.

Keywords: insurance sector in India; employee turnover; motivation; employee retention (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (3)

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